Meat and Livestock Australia has valued the country’s beef exports at close to $17bn (€11.3bn) for the 2016/17 season. Australia exported close to 1m tonnes of beef last year, with over half of this destined for the US and Japan.

The UK will become a net importer of wheat this season, following a harvest where yields have disappointed. UK wheat production this year could be less than 15m tonnes, meaning imports will be required. For July, the UK imported 155,500t of wheat compared with exports of 16,000t in July last year.